Updated Sep 5, 2024
Marcus & Millichap Facilitates $6M Sale Of Self-Storage Facility In Madras, OR
2086 Northwest Andrews Drive Madras, Oregon 97741 USA
$6,000,000
$120/SF
Building Size
49,675 SF
Asset Type
Self Storage
Closing
Jun 20, 2023
About this deal
AI
A self-storage facility in Madras, Oregon has been sold for a price of $6 million. The property, known as Mountain View RV & Mini Storage, spans approximately 49,675 square feet and consists of 385 units. The price per unit (PPU) amounts to $15,584, while the price per square foot (PPSF) is $121. Marcus & Millichap facilitated the sale of this property to an out-of-state buyer.
Summary of transaction details
- Property Type: Self Storage
- Transaction Amount: $6,000,000
- Units: 385
- Price per Unit (PPU): $15,584
- Square Footage: 49,675
- Price per Square Foot (PPSF): $121
- Address: 2086 Northwest Andrews Drive, Madras, OR
- Market: Madras, OR
Christopher Secreto and Samuel Olson from Marcus & Millichap served as the brokers in this transaction. They represented the sellers during the sale of Mountain View RV & Mini Storage.
Players
Madras Self Storage Market Snapshot
Boundary boundary · Self Storage · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.64%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93